what metrics would you use to evaluate flip's international remittance service?

Introduction

Evaluating Flip's international remittance service requires a comprehensive approach to product success metrics. To address this challenge effectively, I'll follow a structured framework covering core metrics, supporting indicators, and risk factors while considering all key stakeholders. This approach will help us gain a holistic view of the service's performance and identify areas for improvement.

Step 1

Product Context

Flip's international remittance service allows users to send money across borders quickly and cost-effectively. Key stakeholders include senders (primarily migrant workers or expatriates), recipients (family members or businesses in home countries), Flip itself, and regulatory bodies.

The user flow typically involves:

1. Sender registration and verification
2. Initiating a transfer (selecting amount, recipient, and payment method)
3. Flip processing the transaction
4. Recipient receiving funds

This service aligns with Flip's broader strategy of financial inclusion and cross-border payments innovation. Compared to traditional banks and established players like Western Union, Flip likely offers competitive exchange rates and lower fees.

As a fintech product, Flip's remittance service is in the growth stage, focusing on user acquisition and expanding to new corridors while refining its core offering.

Software considerations:

• Platform: Mobile-first approach with web support
• Integration: Partnerships with local banks and payment systems
• Deployment: Cloud-based infrastructure for scalability